Impelus : 31 Dec 21 Half Yearly Report and Accounts

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Appendix 4D

Half Year Report

31st December 2021

For personal use only

Impelus Limited

ABN: 24 089 805 416

Appendix 4D Half Year Report

For the period 1 July 2021 to 31 December 2021

Appendix 4D

The following information sets out the requirements of the Appendix 4D of Impelus Limited and its controlled entities (Consolidated Group).

This Appendix 4D covers the reporting period from 1 July 2021 to 31 December 2021. The previous corresponding period is 1 July 2020 to 31 December 2020.

Results for Announcement to the Market

	FHY21	FHY20	Change	Change
	$	$	$	%
Revenue from ordinary activities	-	3,155,670	(3,135,670)	-100.00%
Impairment of Intangible Assets	-	(216,563)	216,563	100.00%
Impairment of Other Assets	-	(131,079)	131,079	100.00%
Net Loss before tax including depreciation and impairment	(217,017)	(2,371,437)	2,154,420	90.85%
Exchange difference on translating foreign operations*	-	53,338	(53,338)	100.00%
Total comprehensive Loss for the half year	(217,017)	(2,160,853)	1,943,836	89.96%
Loss from ordinary activities (EBITDA)	(217,017)	(254,278)	37,261	14.65%

*Exchange difference on translating foreign operations - The Consolidated Group operated wholly owned subsidiaries in the UK and Singapore; on converting these entities' historical balance to Australian dollars an unrealized exchange gain or loss occurs.

Dividends

No dividend has been proposed or declared in respect of the period ended 31 December 2021.

Capital

Total issued and paid up ordinary shares: 126,384,301.

Comments

EBITDA from ordinary activities is a financial measure which is not prescribed by Australian Accounting Standards ('AAS') and represents the profit under AAS adjusted for non-cash and non-ordinary items. The directors consider EBITDA from ordinary activities to reflect the core earnings of the Consolidated Group.

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Directors' Report

Your directors submit the financial report of the Consolidated Group for the half year ended 31 December 2021.

Directors

The names of directors who held office during or since the end of the half year:

	Rodd Boland	Non-executive Chairman
	(appointed 12 October 2021)
	Paris Magdalinos	Non-executive Director
	(appointed 01 December 2021)
	Steven Hadjifotis	Non-executive Director
	(appointed 01 December 2021)
	Brendan Birthistle	Non-executive Chairman
	(appointed 04 December 2018)
	(resigned 17 November 2021)
	David Andrew Haines	Non-executive Director
	(appointed 23 May 2001)
	(resigned 17 November 2021)
	Edward Day	Non-executive Director
	(appointed 12 October 2021)
	(resigned 30 November 2021)
	Keith Rhee	Non-executive Director
	(appointed 12 October 2021)
	(resigned 30 November 2021)
Review of Operations

Impelus Limited posted a Profit/Loss from ordinary activities (EBITDA) of ($0.22) million and an NPAT of ($0.22) million for the half year end results.

A Deed of company arrangement (DOCA) was executed on 17 November 2021. The Consolidated Group has since left external administration and directors are assessing opportunities available to the Consolidated Group going forward.

Cash

The Consolidated Group's Cash at Bank was $0.08 million as at 31 December 2021 compared to $0.37 million as at 31 December 2020.

Financial Position

A Deed of company arrangement (DOCA) was executed on 17 November 2021. The Consolidated Group has since left external administration and directors are assessing opportunities available to the Consolidated Group going forward.

COVID-19 impact

In the first half FY 2022, COVID-19 has not presented any significant financial impact for the Consolidated Group. The directors are assessing opportunities available to the Consolidated Group going forward.

After Balance Date Events

As announced to ASX on 27 January 2022, Impelus Limited is considering to acquire a new business that requires compliance with Chapter 1 and Chapter 2 of the ASX.

As announced to ASX on 8 February 2022, Impelus Limited proposed to issue 16,400,000 ordinary shares at $0.005/share to raise $82,000 as working capital.

Other than as stated above, the Directors are not aware of any other matters or circumstances at the date of this report that have significantly affected or may significantly affect the operations in subsequent financial years.

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Auditor's Independence Declaration

The lead auditor's independence declaration under s 307C of the Corporations Act 2001 is set out on page 4 for the half year ended 31 December 2021.

This report is signed in accordance with a resolution of the Board of Directors.

Rodd Boland

Non-executive Chairman

28 February 2022

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AUDITOR'S INDEPENDENCE DECLARATION UNDER SECTION 307C OF

THE CORPORATIONS ACT 2001

TO THE DIRECTORS OF IMPELUS LIMITED AND CONTROLLED ENTITIES

ABN: 24 089 805 416

In accordance with Section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Impelus Limited.

As the lead auditor for the review of the financial report of Impelus Limited for the half-year ended 31 December 2021, I declare that, to the best of my knowledge and belief, there have been no contraventions of:

1. the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and
2. any applicable code of professional conduct in relation to the review.

MNSA Pty Ltd

Mark Schiliro

Director

Sydney

Dated this 28th of February 2022